Audio shows an Adif control-centre official told an AVE to proceed at normal speed before it hit a stopped Iryo near Urda, Toledo, on October 28. At least 68 people died and 58 were injured. The Government blames human error after a safety-system failure. Most parties suspended election events.
The 12-month Euribor, the main benchmark for variable-rate mortgages, is heading towards 3.2% for October, down from 3.3% in September. The ECB meets on October 29, with markets expecting its deposit rate to stay at 2.5%. Investment manager Pimco forecasts a rise to 2.75% in December.
One of two housing decrees approved on October 6 is in force, extending certain rental contracts by two years and restricting purchases by companies and large holders. Parliamentary validation is still pending. Investment firms say uncertainty over the decrees has stalled funding, developments, and new rental contracts.
The government approved a reform that would extend widow's pensions to unmarried couples with children. The number of widow's pensions fell 0.2% in a year as more women earn retirement pensions and marriages decline. The average widow's pension is €977 a month, against €1,578 for retirement.
The Supreme Court ruled that restructuring-linked voluntary exits count towards collective dismissal thresholds. It voided 31 terminations at Avanade Spain, including 16 voluntary exits, and ordered reinstatement and back pay. Firms with over 300 staff must follow the collective dismissal process for at least 30 terminations in 90 days.
The Supreme Court raised compensation from 2% to 5% of the purchase price for a group of Citroën buyers affected by the car price-fixing cartel. Its October 22 ruling against Stellantis España strengthens other buyers' compensation claims.
The ECB will require Spain's six largest banks to hold about €4 billion more in top-quality capital from January 1, 2027. Much of the rise follows the Banco de España's increase in a buffer against economic risks, from 0.5% to up to 1%. The banks already hold large surpluses above minimum requirements.
An adopted EU rule would cap business cash payments at €10,000 from July 10, 2027. Spain already has a €1,000 limit when a business is involved, or €10,000 for non-resident individuals acting privately. Private-to-private payments fall outside the EU cap.
Telefónica proposes replacing regulated access to its fibre ducts with voluntary commitments. Rivals say fibre costs would rise by €1.50 per customer a month; Telefónica says the rise would be up to 8 cents per line. Rivals ask the CNMC regulator to reject the plan. Its final decision is pending.
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